Hill Holliday Founder With Former GE CEO to Bid on 'Globe'

Boston-Based Jack Welch and Jack Connors Value Paper at $600 Million

By Jeremy Mullman

Published: October 25, 2006

NEW YORK (AdAge.com) -- A group of Boston businessmen led by former General Electric Co. CEO Jack Welch and Hill Holliday Connors Cosmopulos ad agency founder Jack Connors is weighing a bid for the Boston Globe, the newspaper reported this morning.

According to the report, the group values the Globe at between $550 million and $600 million, barely half of what the paper's current owner, the New York Times Co., paid for it in 1993. The group has not yet approached the Times Co. with an offer for the paper.